STATE OF NEW YORK
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4668--A
2019-2020 Regular Sessions
IN SENATE
March 20, 2019
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Introduced by Sens. SKOUFIS, MAYER, BIAGGI, KRUEGER -- read twice and
ordered printed, and when printed to be committed to the Committee on
Local Government -- recommitted to the Committee on Local Government
in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee
AN ACT to amend the general municipal law, in relation to preventing the
use of funds, financial incentives, subsidies or tax exemptions for
projects already in development
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 854 of the general municipal law is amended by
2 adding a new subdivision 21 to read as follows:
3 (21) "In development" - shall mean a project for which active
4 construction, including but not limited to erection of building founda-
5 tions or structure, has already commenced.
6 § 2. Section 862 of the general municipal law is amended by adding a
7 new subdivision 3 to read as follows:
8 (3) Except where environmental contamination requiring a significant
9 increase in project costs is discovered during the development of the
10 project or where a municipality has reassessed all or part of the
11 project site resulting in an increase in property taxes of more than
12 fifty percent, no funds, financial incentives or subsidies of the agency
13 shall be used in respect of any project which is already in development
14 at the time such project applies for such funds, financial assistance,
15 incentives or subsidies.
16 § 3. Section 874 of the general municipal law is amended by adding a
17 new subdivision 13 to read as follows:
18 (13) Except where environmental contamination requiring a significant
19 increase in project costs is discovered during the development of the
20 project or where a municipality has reassessed all or part of the
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10239-06-0
S. 4668--A 2
1 project site resulting in an increase in property taxes of more than
2 fifty percent, no tax exemptions shall be granted to any project if the
3 project is already in development at the time such project applies for
4 the issuance of the tax exemption.
5 § 4. This act shall take effect immediately.